Decision details

The oneSource shared forecast financial position shows a projected overspend of £0.796m as at September 2017, Period 6. This was an improvement on the Period 3 projected overspend of £2.327m. The improved forecast was largely due to an ICT and Asset Management forecasts. The projected overspend split between the three boroughs was £0.341m to Havering, £0.170m to Bexley and £0.286m to Newham.

As at Period 6, the services managed by oneSource, but not shared were forecasting the following variances; £0.034m overspend for Havering, £4.550m overspend for Newham and nil variance for Bexley. These include an increase in savings of the non-shared areas as follows for the 2017/18 financial year:- Havering (£0.328m), Newham (£0.512m) and Bexley (£0.097m).

The Joint Committee noted the current oneSource forecasted outturn position based on the financial monitoring as at the end of September 2017.